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News

St. James's Place hikes dividend 33% after profits surge

Wealth manager St. James's Place said its annual profit jumped by a third after buoyant markets and strong net inflows boosted its funds under management.

Pre-tax profit grew by 32% to £186.1m, as net inflows of funds under management grew to £9.5bn, up from £6.8bn in 2016.

The company declared a final dividend of 27.45p per share, up 33% on-year.

'Our continuing focus on achieving the best possible outcomes for our clients ... gives us confidence that we will continue to grow our business, in line with our stated medium-term objective of 15 -20%, in 2018 and beyond,' chief executive Andrew Croft said.